“Real Estate Market Slows”, “Housing Inventory Up”, “Buyer’s Market!” Have these recent headlines made you a bit nervous about selling your home, in today’s market? While it is true that buyers are no longer falling over each other in an effort to outbid the competition, it is also true that the Westport real estate market has NOT collapsed. Westport remains a much sought after community, in which to live. But, homebuyers have become more discerning.

Today, it is more important than ever, to market and price your home correctly.

There are three reasons that real estate doesn't sell...Price, Price and Price! Sure, you can blame the condition of the house, or the location, or current mortgage rates. But, for the right price, every property sells. Pricing is not an exact science, but rather a compilation of various statistics and conditions. Some components that go into determining price include:

Hard facts (e.g. lot size and square footage)

Desirability (e.g location, area amenities and property attributes)

Current market conditions (e.g mortgage rates and property taxes)

Current selling and listing prices of comparable homes.

Ultimately, the market determines the correct price. By analyzing the components, your REALTOR® can help you discern the best estimate of what the optimum selling price should be.

So, you're ready to sell.

Where do you begin? First impressions count. Remember, you don't get a second chance to make a good first impression. Besides the obvious measures of tending to the yard and keeping the house neat and clean, your REALTOR® can give you an unbiased opinion of what other areas may need to be addressed. Your favorite paint colors may not be the best palette for showing off the features of your home. Your antique teacup collection may just create distracting clutter to your potential buyer. Your goal is to create a neutral environment that allows your buyer to picture their possessions in the house. Keep in mind,

The way you live in a house is not the way you stage your house to sell.

Please take a look at the Seller's Toolkit and the Home Seller Reports, to help answer your questions and get you ready for the process of selling your home.

I will help you determine the best selling price for your home.
I will work with you to stage your home.
I will market your home to the widest audience of potential buyers.
I will work to make your transaction as smooth as possible.

I look forward to working with you.

Thanks for stopping by,

Marilyn

Home Seller Reports

Determine the Right Selling Price for Your HomeWhen you’re selling your home, the price you set is a critical factor in the return you’ll receive...Read More

Selling Your Home: Where do you begin?Now that you're selling your home, you'll need to look at it as if you were buying it all over again... Read More

Avoid the Most Common Selling MistakesThere are some common errors that can be avoided when you are selling your home. I want to make sure you are well informed... Read More

The Sweet Smell of a Successful SaleRemember that potential buyers want to imagine themselves calling your house their home... Read More

The Best Way to Sell Your House...Get Lost!When you are showing your home, the best thing you can do is to make yourself scarce... Read More

Among the expenses you incur, when you sell your home, in Connecticut, is the Conveyance Tax. This tax primarily goes to the state, while a small portion goes to the local municipality. In 2003, the legislature enacted a "temporary" increase to the municipal portion of the tax. It was supposed to "sunset" after 15 months.

The towns, enjoying the windfall to their coffers, lobbied to keep the tax increase. It was extended for a year, then two years, then another year. If the tax increase was not allowed to "sunset", on June 30, 2008, as legislated, it could have become permanent, that July.

Update

After REALTORS® delivered petitions with thousands of signatures, to the Capitol, the Legislature's Finance Committee introduced a substitute bill, extending the tax for two more years, rather than making it permanent. The full legislature still needs to vote on this bill or do nothing and allow the tax to "sunset."

At the last minute, a special session of the legislature was called . Although the effort did gain some new support, the final vote extended the tax increase for another two years.

In 2011, the legislature permanently revoked the municipal sunset clause and raised the state rate. Effective July 1, 2011 the state portion of the conveyance tax on the first $800,000 of the sale price of residential property was raised from 0.5% to 0.75%. The rate for everything above $800,000 was increased from 0.75% to 1.25%. The municipal conveyance tax rate was set at 0.25%. Eighteen towns were allowed to double the municipal rate. In Fairfield County, those towns include Bridgeport, Norwalk and Stamford.